Pfizer (NYSE:PFE) Shares Down 0.8%

Pfizer Inc. (NYSE:PFE) shares fell 0.8% during trading on Tuesday . The company traded as low as $27.88 and last traded at $28.00. 4,102,467 shares were traded during mid-day trading, a decline of 90% from the average session volume of 40,500,141 shares. The stock had previously closed at $28.22.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Argus downgraded Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. BMO Capital Markets reissued an “outperform” rating and issued a $36.00 price target (up from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Wednesday, June 26th. Finally, Morgan Stanley raised their price target on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $35.54.

Pfizer Price Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.78 and a current ratio of 1.05. The company has a 50-day simple moving average of $27.96 and a 200-day simple moving average of $27.71. The company has a market cap of $156.79 billion, a price-to-earnings ratio of -461.09, a PEG ratio of 1.09 and a beta of 0.69.

Pfizer (NYSE:PFE) last released its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The company had revenue of $14.88 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter last year, the company earned $1.23 earnings per share. Pfizer’s quarterly revenue was down 19.5% compared to the same quarter last year. As a group, research analysts predict that Pfizer Inc. will post 2.38 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 6.07%. The ex-dividend date of this dividend is Thursday, July 25th. Pfizer’s dividend payout ratio (DPR) is -2,799.53%.

Hedge Funds Weigh In On Pfizer

Several institutional investors and hedge funds have recently modified their holdings of PFE. Teza Capital Management LLC acquired a new position in Pfizer during the 3rd quarter worth approximately $347,000. Royal London Asset Management Ltd. increased its stake in Pfizer by 5.1% during the third quarter. Royal London Asset Management Ltd. now owns 2,313,310 shares of the biopharmaceutical company’s stock valued at $76,744,000 after purchasing an additional 113,175 shares during the last quarter. Industrial Alliance Investment Management Inc. raised its holdings in shares of Pfizer by 133.5% during the third quarter. Industrial Alliance Investment Management Inc. now owns 12,188 shares of the biopharmaceutical company’s stock worth $404,000 after purchasing an additional 6,968 shares during the period. Cito Capital Group LLC lifted its holdings in Pfizer by 3.8% in the third quarter. Cito Capital Group LLC now owns 40,500 shares of the biopharmaceutical company’s stock worth $1,343,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Baker Avenue Asset Management LP lifted its holdings in shares of Pfizer by 5.9% in the 3rd quarter. Baker Avenue Asset Management LP now owns 33,916 shares of the biopharmaceutical company’s stock worth $1,125,000 after purchasing an additional 1,876 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

About Pfizer

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.